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Why Used Cars Are Far Better than Brand New

Updated on February 15, 2016
Photo credit: ** RCB ** via Foter.com / CC BY
Photo credit: ** RCB ** via Foter.com / CC BY

Having your own car gives you the freedom to go anywhere you want to and whenever you feel like having a road trip. It gives you the convenience of easy and hassle-free transport. Most people prefer to buy brand new cars than used cars. This is because they picture used cars as rusty, old and not dependable. But this is not the case in reality. Little did they know that used cars are even more efficient and very affordable than brand new cars.

The 5 Major Benefits

Here are five benefits why you should opt to buy used cars.

Low Cost

Brand new cars are often too pricey to buy. But if you decide to buy used car, you can save as much as half the original price of a new car.

Also, you won’t be worrying on the expensive sales tax because used cars do not have any sales tax. You can even bargain the price of the car if you purchase from a private seller.

Declining Depreciation

As soon as you drive your new car out of the dealership lot, you will lose as much as 10% up to 30% of its value. Some models of cars can depreciate up to 50% or even higher during the first three years. But with used cars, its depreciation value gets lesser and lesser as it age.

Registration Rate

Registration fees are at its highest during the first 3 years upon the manufacture of the car and the fees decline in older car models. You’d be saving a lot of cash to spend on the car registration if you choose to buy an at least three-year old car. It would even be much lower in five-year old car models.

Certification Program

Certified pre-owned programs are offered by the car manufacturers wherein the warranties of the car are extended if it has passed the rigid inspection.

Certification programs are usually for late-model cars that has no major damage history. The warranty is just the same with the warranty of the new car. However, not all models of used cars can qualify in the certification program.

Insurance Rates

The insurance rates of second hand cars tend to be less expensive than that of the new car. Car insurances usually offer other extra coverage for additional protection but for an additional fee too.

When insuring an old car, make sure to purchase the car insurance coverage that you only need. It is helpful to make a research on what is the best car insurance to purchase before you actually buy the insurance so as to save you trouble as well as cash too.

The 5 Helpful Buying Tips

Here are five tips to ensure that you make the best decision of buying a used car.

Research and Budget Allotment

Know your limits when it comes to buying cars. Remember that cars are expensive. You’d be wasting your money if you didn’t research on the car that you ought to buy and made a wrong decision in buying that car.

In addition, setting the range of your budget can narrow down the wide spectrum of choices if you are still undecided of what model you want to buy.

Once you have set the budget range, you may start looking for the best used cars, for example, that will suit your lifestyle by searching through the internet or you can even consult the experts, your friends and families on what model to buy.

When you’ve chosen a model, know its weak and strong points, compare and contrast the original value to the second-hand value and determine its typical repair cost.

Know the Car’s History

When you opted to buy a used car, always know its history before you issue a check. Some of the used cars in the market may have been in an accident or any other mishaps and you haven’t noticed anything because the body framework is in good shape.

If it’s possible, you can have the machinery of the car checked by a mechanic to really ensure that the car you’d be buying is worth your cash. Moreover, the mileage of the car should also be considered.

Also, if you are buying from a private seller, it wouldn’t hurt if you inspect the owner if they are trustworthy and has taken cared off well the car that they are selling. Remember, learning more about the owner reveals more about the car.

Opt for a CPO Car

As mentioned earlier, not all cars are qualified to certified pre-owned program. Thus, before you buy a used car, always check if it is under CPO so as to acquire the extended manufacturer’s warranty for the car.

Avoid Buying on Impulse

Usually, we fall in love at first sight. But you should avoid this to spare you from trouble. Never buy on impulse since this makes you buy the car without even checking if the machinery is still okay and/or if it has a wreckage history.

Not only would you be wasting your hard-earned money but you’d be frustrated for making a very bad decision.

Close the Deal

Upon securing quality check in the car that you want to buy and the negotiation and bargaining had been done, the transaction should then be finalized. But for safety purposes, never pay in cash.

Aside from the danger of carrying large sums of money, if something goes wrong, you’d be having trouble of getting the money back. For a secure payment, do the money transactions via credit card, check, or bank to bank transfer.

Choosing and buying a car that will suit you is never easy. Indeed, driving a brand new car feels really good. But is it worth the hole in your pocket? Considering all the benefits of buying a used car, you might want to buy the slightly used car instead of buying a brand new car.

With an investment of time and effort on researching and great bargaining, you’d be able to find a good deal on used car that is reliable, in excellent mechanical shape and great overall condition. And, don’t forget to check out dealer promos and ads like popular used cars in Kuwait.

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